Traditionally, there is a scramble right now among banks and building societies to entice savers with extra-competitive rates.

But this year - much like 2013 - there has not been the usual rush and new best buy Isas have been few and far between. As a result, savers won't be able to find cash Isa rates that compare to offerings in previous years.

Given the low rates, savers should make sure they keep any returns that are going.

A
standard account that pays 1.5 per cent will pay an even more skinny 1.2
per cent if you're paying basic rate tax, or a weedy 0.9 per cent by higher rate tax.

That won’t happen with a cash Isa.

IMPORTANT: DON'T MOVE TOO FAST

When moving Isa money from previous years, the tax status needs to be transferred from one account to another.

Do not simply withdraw your cash. You will need to fill
in transfer forms to the new provider to ensure you keep tax efficient status on your money.

And also read the smallprint on
your existing Isa to make sure you don’t incur any penalties.

The
tax advantages of Isas depend on your individual circumstances which,
like tax rules, may change in the future, but at the moment a cash Isa
is a winning formula for all savers.

While returns are modest this year, savers should fill their allowance in the hope
that rates improve in the future and they can transfer their nest egg to
a better paying deal.

However,
many top cash Isa offers will not allow transfers in so here we round-up the top Isas that allow transfers.

We
will keep this page updated in the coming weeks if and when changes
happen.

Top five transfer-allowing cash Isas

Key facts:This fixed-rate cash Isa can be operated online, by telephone, by visiting a branch or by post. Savers with more than £5,000 can register for its prize draw with three top jackpots of £100,000 each month, while May and June has one jackpot in each of £500,000. After the eighteen month period, the rate
will drop to 0.5 per cent so cash needs to be moved at this point to
avoid a paltry rate.

Key facts: This Isa is only available to 123 current
account, and 123 credit card or Santander Select customers, with a
minimum opening balance of £500. Those without a 123 current account can
get a two per cent rate fixed for the same period. Non-current account customers can get a lower 2 per cent rate - the same as the Halifax rate above, but for tying up cash for six months longer.

Key facts:This BM Savings is now the best easy-access open to all after Santander cut its Direct Isa rate. However, this Isa needs £20,000 to open - those with less than this will get a 1.4 per cent rate.

Nationwide has a higher 1.75 per cent rate - but you have to be a current account customer with the building society and it doesn't take transfers. Santander's 123 Direct Isa comes with a 1.7 per cent rate, but again, you have to be a customer.

For a bonus-free account Nationwide's Instant Isa Saver is at 1.5 per cent, which we like as it pays interest from when your application is received.

Key facts:With Isa rates low, especially for instant-access, this Halifax account scrapes into the list. You can get a higher 1.75 per cent as mentioned above, but you need a current account with Nationwide. This account comes with a meaty bonus of 1.3 per cent which will expire in 12 months. We like as it pays interest from when your application is received. You can also register for the prize draw as mentioned above.